Maui Real Estate Blog
Last of its Kind on Kuau Point
Kuau Point stands out as one of the best oceanfront neighborhoods on the island. Quiet streets, a couple of oceanfront access points for water sports, a neighborhood beach and the island’s most renowned restaurant are what puts this community on the list. This new listing offers a special, last of its kind opportunity in the neighborhood.
Hawaii Plantation Style Home on Kuau Point
The existing home is a restored Hawaii Plantation Style Home. The restoration maintains the charm of the era when it was constructed. The home has three bedrooms and one a half baths. The floors have been refinished and stained dark adding an additional warmth to the home. The home provides more than ample storage for your water toys. Take a 3D Tour of the Home to see more of the interior and to see the floor plan.
There Aren’t Many Lots Like This left on Kuau Point
This home is located on a large 17,481 square foot lot. The R-1 zoning allows for an additional home and an accessory dwelling. The seller acquired a second water ensuring that there is sufficient water for any new construction. Walk around Kuau Point and you will quickly see that there aren’t many properties with this type of opportunity for additional construction. Develop a family compound, CPR the property or plant more fruit trees. The choice is yours.
An Ideal Location on Kuau Point
Walk out the front door of this home and you are roughly 100 feet from the Public Ocean Access and 200 feet from the waters of Tavares Bay. There is another ocean access roughly 1000 feet from the front door. That spot gives you access Noriega’s and the Mama’s Surf breaks which are popular for surf, SUP and windsurfing. It is less than five minutes drive to the waves at Ho’okipa Beach Park. Drive less than a mile to Paia town for restaurants, groceries, shopping and yoga. If you don’t want to venture far from home, the Kuau Store offers sandwiches and tasty Poke. Head to Mama’s Fish House for some of the finest dining available on the island.
This Last of its Kind Opportunity on Kuau Point is offered for sale for $1,750,000. Check out more photos and details on the 17 Malie Place listing page. Buyers may also Contact The Maui Real Estate Team with questions or to arrange a showing.
Maui Real Estate Blog
Paia Real Estate Market Update May 2016
The Maui Real Estate Team’s office is based out of the North Shore community of Paia. This small town known for its bohemian feel and proximity to world class water sports has been one of the stronger real estate markets on the island over the last 10-15 years. I wanted to take a look at the Paia Real Estate market and how it is fairing to start 2016. This post looks specifically at Paia and Kuau. It does not include the Spreckelsville neighborhood. If you are interested in that area, check out our recent Spreckelsville Market update. In this post, I wanted to show the general activity in Paia during 2016 with comparisons made to sales activity in 2015. I will also drill down and look at sales activity in certain neighborhoods around Paia.
The map below shows activity in the 2016 Paia Real Estate market. The Red pins represent sales. The yellow pins represent pending sales and the green pins represent active homes. You can click on the individual pins for details on each of the properties.
I have also included a map of the 2015 Paia Real Estate Sales for some context.
While the maps give you a visual reference as to what has been happening in Paia, the numbers below may be a little easier to digest. This is a look at the sales volumes, median sales prices, average sales price, some 2015 numbers for comparison and some other notable numbers from the first five months of sales.
- There have been 15 homes reported sold for the year to date in the Paia/Kuau area with an additional 5 homes under contract. One of those pending homes could conceivably be classified as a land sale due to the condition of the home. In addition to the reported sales, I am aware of one other home that sold without Realtors in Kuau Bayview.
- By comparison, there were 9 homes that sold over the first five months of 2016. There were a total of 26 home sales throughout all of 2016. That calculates to a 66% increase in sales for the first 5 months of 2016 and 57% of the total sales for all of 2015. It looks the 2016 sales volume is well on its way to beating 2015 totals.
- The median price for the 15 2015 sales was $600,000 and the average price was $1,372,000. By comparison, the median and average sales prices for the first 5 months of 2015 was $599,000 and $684,222. The difference in average sales price speaks to a couple of big dollar sales that closed earlier this year. The negligible difference in median price does not accurately reflect changes in property value. Perhaps we can glean more when we look at some of the individual neighborhoods below.
- The highest priced sale during the start of the year was $6,000,000 for an oceanfront estate. The property located at 23 Wa’a on Tavares Bay includes a 4 bed, 4.5 bath home with 6,258 square feet of living space and a 1 bed, 1 bath 1,025 square foot cottage on a 1.28 acre lot.
- There were two condo sales at Paia’s one and only condo complex, Kuau plaza. There were no sales at Kuau Plaza during the first five months of 2015. There was only one Kuau Plaza sale in all of 2015.
- There were no land sales in the Paia area during the first five months of the year. There is one property under contract and arguably a second when you factor in the condition of the property’s home. There were no land sales during the same period of 2015. The low volume of sales is not a reflection of demand. There just isn’t any supply. Paia is hemmed in by agricultural land and there are very few remaining vacant lots. That could change in the future with the end of the sugar plantation, but nothing is imminent at this point.
For a small community, Paia has a pretty diverse market of homes. From old Hawaii Plantation Style Homes to luxurious oceanfront estates, there is a significant range in property values. With that in mind, it is worth looking at some of the market activity of some selected neighborhoods around Paia.
Kuau Bayview was one of the more resilient neighborhoods coming out of the downturn. While many areas of Maui were just starting to see modest appreciation, Kuau Bayview was setting new market highs. The neighborhood offers proximity to town and area beaches, a community park, good views from selected homes and consistent pride of ownership. There have been two sales publicized in the MLS this year, one sale that did not involve Realtors and two pending sales. The three sales to date have all set new record highs for the community. Two of the three sales closed in the mid $900,000s. All three homes are two story, have good ocean views and they have been remodeled and upgraded. The two homes under contract are both smaller single level floor plans. While these homes will not set any new high prices when they close, they will be among the highest ever sales price for their floor plan.
Additional activity in the neighborhood during 2016 will be predicated on new inventory coming to market. Potential sellers should realize that the run of high sales does not necessarily mean the next home to hit the market will set a new record. For a relatively small neighborhood, there is a decent range in home values. The highest priced homes tend to be located towards the top of the neighborhood where views are better and there is little to no road noise from Hana Highway. Remodels and additional square footage are also factors in pricing.
North Shore Village
North Shore Village was built in 2003. It was the last new development in Paia. The two story homes are located on small lots. The area also offers consistent pride of ownership, and it is just a few minutes walk from all of the amenities of downtown Paia. Due to the limited number of homes in this neighborhood, we don’t see a lot of turnover. In 2015, there were no sales in the neighborhood. This year there has been one sale and one additional property is pending. The home that closed was a smaller two bedroom floor plan that sold for $589,000. The pending sale is particularly noteworthy as it was listed for $780,000. That is well above previous sales in the neighborhood. The home was well maintained, but not significantly upgraded. It is rumored to be under contract for close to the asking price. That would smash the neighborhood high sale. If say it were to sell for $740,000, it would be selling for 26% above the last neighborhood sale for a home that is only 145 square feet larger.
This is another neighborhood that would require new inventory if there is going to be additional sales activity in 2016. It will be interesting to see how the next home that comes to market is priced. Will this pending sale reset prices in the neighborhood or will the market view the one high sale as a one off close?
Halelani is a small neighborhood nestled between North Shore Village and Kuau Bayview. It is behind the Paia Community Center. Most of the homes were built in the early to mid 70s and they tend to be modest in size and construction. There have been some nice remodels in the neighborhood over the last decade. It is a desirable neighborhood due to proximity to downtown and area beaches. It also offers a lower price point under $700,000. Halelani was pretty busy in 2015 with 5 sales in the neighborhood. Those sales included the two highest neighborhood sales of all time. This year, it has been quiet with no listings and no sales reported to date. With limited Paia inventory under $700,000, well priced new inventory inventory would be well received.
Skill Village is a neighborhood of more modest homes built in the mid to late 80s. The neighborhood is located above the old Mill in Paia close to Paia Elementary School. It is the primary location for entry level homes in Paia, but there have also been some homes that have been significantly updated. This neighborhood has had some pretty healthy activity this year and last year. There have been five sales thus far this year, with two additional pending sale and one active listing. Last year, there were 3 sales in the first five months of 2015 and 9 total sales for the year.
There were more high priced sales in 2015 than what we have seen to date in 2016, but that is a reflection of the homes sold rather than market dynamics. There was actually one home sold in both 2015 and 2016 with little to no new improvements. On August 20, 2015, 32 Palekana sold for $530,000. Less than 7 months later, it sold again for $561,500 on March 7, 2016. That is almost 6% increase in that period of time. Other signs of appreciation in the neighborhood are apparent when you compare the low sales in 2015 with the low sales in 2016. The lowest priced sale for the year to date was $465,000. Last year, there were two homes that sold for $385,000.
I would imagine, we will continue to see steady activity in Skill Village this year if there is sufficient inventory. Paia remains an in demand community and this is one of the more accessible neighborhoods for potential buyers.
The Kuau Point neighborhood is a mix of older plantation homes, newer homes and oceanfront properties. Neighborhood amenities like a high end convenience store, Mama’s Fish House, Mama’s Beach and a great launch for wind and waves sports make this little community on the ocean side of Hana Highway very desirable. There have been three home sales in the neighborhood this year, with one oceanfront lot under contract and one new oceanfront home listing. The range of sold homes provides a pretty good cross section of Kuau Point properties. At the low end, there is a small residential condo just off of Hana Highway that sold for $590,000. With only 720 square feet of living space, it came at a pretty hefty price. That said, its size is offset by its proximity to amenities. The middle sale was a former vacation rental just a stone’s throw from Mama’s Fish House. This home sold for $1,323,000. The high sale was $4,850,000 for a house and cottage on .4139 acres of oceanfront. Last year, there were 3 sales during the first five months of the year and 7 total sales throughout the year.
Paia Oceanfront isn’t a neighborhood. This class of property spans across a number of neighborhoods and there is some overlap with my Kuau Point discussion. That said, oceanfront is it’s own unique market segment that merits a separate discussion. It is also the only part of the Paia market where you can find an abundance of inventory. There are currently 10 active oceanfront home listings in the Paia/Kuau area. You could make a case that one of the home listings could be thought of as more of a land listing. The 1.1 acre oceanfront lot we have in Paia is one of the more stunning parcels along the coast. The older structures have less value and the heavy lifting has been done to get approvals to construct a new home. There is also one oceanfront lot on the market that is currently under contract. Thus far this year, there have been two oceanfront sales. That is ahead of the one oceanfront home sold last year.
Market dynamics for oceanfront properties in Paia are pretty interesting right now. The two homes sold and the lot under contract are an uptick in activity over last year. That said, the most recent close could put some downward pressure on list prices. Sellers have been shooting for premium prices. A number of those asking prices feel high in light of the sale of 23 Wa’a. The cost per square foot was significantly lower and the quality of construction was significantly higher than some of the other homes currently on the market. It will be interesting to see if the existing inventory is able to shrug this off as an outlier sale or if buyers successfully leverage the 23 Wa’a sale to negotiate lower prices.
Overall Paia Market Thoughts
The overall Maui Real Estate market has seen upward pressure on pricing due to a lack of new supply and strong demand fueled by compelling interest rates and high rental costs. These issues are particularly acute in the Paia area where the lack of new construction dates all the back to 2003 and market demand has increased as Paia has become seen a significant increase in demand from second home owners. Those dynamics would suggest that we may continue to see upward pricing pressure in Paia as long as the economy maintains or outperforms current level and borrowing costs do not increase too much. That being said, I would not be surprised to see the rapid rates of appreciation we have seen in some neighborhoods cool off. Price increases in Paia tend not to be linear. We get something of a stair step effect where prices shoot up and then level off for a while before they increase again. I can see that happening in a few neighborhoods. If you made it to the end of this tome, you have to be pretty interested in the Paia market. Feel free to contact us if you have questions about the market or if you need assistance with your real estate needs. We would welcome the chance to learn about your needs. You can find more details about the current Paia Real Estate Listings on MauiRealEstate.com.
Maui Real Estate Blog
Paia Real Estate 2015 Midyear Market Update
Paia town has grown in acclaim over the last 15 years. Back in the 80s and 90s, Paia was only really a destination for windsurfers. It is still a big draw for water sports enthusiasts, but now it attracts a broader cross section of people. People are drawn to its plantation style charm, bohemian vibe, assorted boutiques, good restaurants and yoga studios. Paia has been featured in national publications and made lists as one of the Best Beach Towns in America. While demand and awareness has grown for Paia Real Estate, the community has seen very limited growth in housing inventory over the last 20 years. North Shore Village was the last new development in the town, and construction on that community was completed in 2003. Prospects for increased housing inventory remain limited in the near term as the community is hemmed in by cane fields. The static supply and growing demand has helped to fuel strong growth in pricing.
Earlier this week, we did a midyear update on the Spreckelsville market. Today, I wanted to look at the community of Paia. Spreckelsville is actually considered to be a neighborhood of Paia. Properties in Sprecks are part of the Paia MLS listings. Last year we decided to split the communities of Paia and Spreckelsville when we did our market analysis. We feel that they are different enough markets that they merit a separate discussion. This post will look exclusively at Paia and the neighborhood/community of Kuau located just to the East of Paia.
The map above shows the homes that sold as well as the homes that are currently under contract. If you click on the individual pins, you will find information on the sales price, closing date and property specifications.
There were 9 homes sold in Paia during the first six months of the year with a median price of $599,000. There were 5 homes sold in the first six months of 2014 with a median price of $644,500. There was also a condo sold at Kuau Plaza in the first half of 2015 compared to two condos sold during the first half of 2014. There were no land sales in Paia thus far this year compared to one during the first half of 2015. There were some other things that I thought were notable about the Paia Real Estate market during the first half of the year.
- The Skill Village area was the busiest neighborhood for sales activity with three sales and an additional four home sales pending currently. Kuau Point also saw three homes sell, although one of those sales was a private sale that did not involve Realtors.
- That private sale closed for $1,200,000. That was the highest priced transaction in Paia to start the year. The property is located at 4 Kaiholo street right next to Mama’s Fish House. Based on Public Records, it appears as if it was purchased by the owners of Mama’s.
- There was only one other sale over $1,000,000 in Paia during the first six months of 2015. It was for a four bedroom, two bath condominium home on Kuau Point.
- Kuau Bayview was quiet in terms of sales activity with only one close and no properties currently listed on the market. That said, the one sale was a new record high for the neighborhood.
This was a pretty good first six months of the year for the Paia Real Estate market. The bulk of the activity was focused on the entry level of the market. It was the increased activity with lower priced properties that drove the decrease in median sales price compared to last year. If anything, the increased activity at lower price points has resulted in rising prices. Neighborhoods like Skill Village and Lower Paia are right below the all time high sales prices that we saw in the last real estate boom. There are potentials for records to be broken among the pending sales.
While the low end market saw strong activity, the Paia high end market and specifically the oceanfront market have been quiet. There have been nine different properties listed for sale on the ocean during the first six months of the year. There are eight oceanfront homes listed currently. There have been no sales and no properties under contract. You can get a sense of the location and additional information on the current Paia oceanfront home inventory via the map below.
With eight ocean and beachfront homes on the market, Paia has more oceanfront inventory than any other community on the island. Many of those homes have been on the market for a considerable amount of time. I would imagine that there might be some opportunity for oceanfront buyers based on the depth of inventory. It will be interesting to see if any buyers step forward for these properties before the end of the year.
The overall Paia market looks like it will continue to see a fair amount of activity at lower price points. There are 5 properties under contract under $700,000 as it stands currently. That part of the market has the potential to cool off if expected interest rate increases occur sometime in the fall. There is a bit of gap in inventory between the entry level of the market and the oceanfront inventory. There are only two properties listed for sale for more than $700,000 that aren’t oceanfront. This could be a good time to go to market for potential sellers in Kuau Bayview or for non-oceanfront owners along the ocean side of Hana Highway. Well priced properties in those areas should be attractive to buyers. You can see the current Paia Real Estate Inventory on MauiRealEstate.com. Contact The Maui Real Estate Team if you have questions on Paia or need assistance buying or selling property. Our office is located in downtown Paia. We keep a close eye on the market and our ears open for unlisted properties.
Maui Real Estate Blog
Paia 2013 Real Estate Review and 2014 outlook
Last week, we took a look at how the Spreckeslville Real Estate market performed in 2013 and gave a few thoughts on the outlook for 2014. Today, I wanted to take a look at the neighboring North Shore community of Paia. Paia and Spreckelsville share the same zip code and are technically the same town. That said, each community has its own character. Paia is a town pretty unique to the planet. Once the bustling epicenter of Maui’s sugar industry, it was later discovered by Hippies in the 60s and 70s, windsurfers in the 80s and a more diverse cross section of water sports enthusiasts in the 90s and beyond. For a town of its size, it has a diverse population drawn from all corners of the world. Paia boasts great restaurants, appealing boutiques, galleries, beaches and the best little health food store on the planet. It is also the location where the Maui Real Estate Team office is located.
The map below shows all of the 2013 home sales from the Paia area. We included all transactions in and around downtown Paia, up Baldwin Avenue to the Skill Village neighborhood and East on Hana Highway into Kuau.
This map shows all of the current home inventory in the Paia area. Green pins represent active listings. Yellow pins represent pending sales.
Here are the numbers that I thought were noteworthy for the Paia property market in 2013.
- There were 20 homes sold in the Paia area during 2013. The median sales price for Paia during 2013 was $678,500. By comparison, there were 18 sales in Paia during 2012 with a median price of $367,500. That is an 11% increase in sales and an 87% increase in median prices.
- The high sale for the Paia area was $5,500,000 for a modest home on 1.1 oceanfront acres. The home is a likely tear down and the value was in the land. This is one of the premier oceanfront parcels in the Paia area and the third largest parcel in the Paia/Spreckelsville area. This was the third highest sale ever for a property in the Paia/Spreckelsville area.
- The second highest sale was $4,600,000 for a home across the street from the beach on Kuau Beach place. This was a substantial property with over 2 acres of land, a pool, and multiple structures including a primary residence of almost 5,300 square feet. This was the highest priced non-oceanfront sale ever in the Paia/ Spreckselsville area.
- There were three condo sales during 2013 at Kuau Plaza. There was only one condo sale at Kuau Plaza during 2012.
- There were four land sales in 2013 in Paia. In 2012, there was only one sale.
- The land sales included a $2,300,000 sale for an oceanfront lot on Kuau Point. This 18,875 square foot lot had an ideal west/northwest orientation.
- There were two commercial properties that sold in Paia during 2013 and one of the four lots sold was a commercial lot downtown. Paia had one commercial sale in 2012.
- There was one property bought directly from an asset management company and one short sale in 2013. There were three bank owned properties (REO) and four short sales that closed in Paia during 2012.
There were a couple things in the numbers above that merit additional discussion. First and foremost, the difference in median sales price for Paia homes really jumps off the page. To be clear up front, the 87% increase in median price over 2012 does not mean that there was an 87% increase in home values. The drastic shift in median prices can be attributed to two factors. First, there was a big shift in the distribution of sales. There were nine sales under $400,000 in 2012 compared to four sales in 2013. There was a lot more lower priced inventory during 2012. A fair amount of that lower priced inventory consisted of either REO listings or potential short sales. There were also fewer high end sales in 2012 with only one property that sold for over 1 million compared to 3 million dollar plus sales in 2013. The second factor was an increase in overall values. Part of the reason that we saw fewer lower priced sales was due to appreciation. The appreciation wasn’t just limited to the bottom of the market. You can make an argument that you saw solid increases in value at all price points of the market in Paia.
Two Paia neighborhoods saw prices near or above previous peak market prices. In 2013, the Kuau Bayview neighborhood had homes sell for the first, second and fifth highest ever sales prices. A fourth home sold for the second ever highest cost per square foot. The Skill Village neighborhood had the highest ever cost per square foot sale. You could also argue that the two highest priced transactions in Paia were at or near peak market prices. It is tough to quantify the absolute rates of appreciation though with the relative heterogeneity of Paia homes. Regardless of the percentage increase, Paia was the only community on island where we saw sales prices at or near peak market prices. The Paia market rebound has been driven by its lack of new supply combined with increasing demand due to its growing recognition as a desirable community to live and call a second home.
The desirability of Paia is also reflected in its increasing popularity for luxury home buyers. While two sales in one year over $4,000,000 doesn’t seem like a lot compared to traditional Maui resort markets like Kapalua or Wailea, there were only three sales prior to 2013 for more than $4,000,000. The land sale of $2,300,000 was another ultra luxury purchase. Neighboring Spreckelsville also had two sales around the $3,000,000 mark and four properties that went under contract in the last two months of 2013 priced $4,000,000 or above. More ultra luxury home buyers have been attracted to the North Shore lifestyle whether it be wellness or water sports. Regardless, Paia is becoming a community of understated affluence.
What can we expect for 2014? With the home market, I would not count on seeing similar rates of appreciation to what we saw in 2013. During the last boom cycle, we saw varying rates of appreciation within any one year that eventually evened out over longer periods. Hot neighborhoods would cool when the comparative value with neighboring communities became too far out of line. Those neighboring communities would then see their values increase before we started to see a return to more substantive appreciation in the hot neighborhoods. I think we may well see that in Paia during 2014. While Paia’s limited supply may lend itself to greater appreciation in the long term, it doesn’t seem like prices will really bust through the roof this year. Interest rates are another factor worth watching. As it stands, rates have the potential to go up with the cut backs to quantitative easing. A more significant bump in rates has the potential to dampen appreciation.
The luxury home market tends to be a little less interest rate driven. The one external economic factor that could impact the Paia luxury home market is the stock market. In our 2013 Maui market overview, I surmised that the luxury real estate market for Maui received a bump thanks to a strong year for stock markets. Better stock returns mean more discretionary income and more funds available for luxury home purchases. Global stock markets have recently been in a sell off based on mixed economic news.
If the stock market shakes off its stupor, the conditions are favorable in Paia for more luxury home sales. There is no oceanfront inventory in Spreckelsville which could shift more market attention towards Paia. As mentioned before, we are seeing more luxury home buyers in the Paia area of late due to the allure of the North Shore lifestyle. The question then becomes whether or not we can come to a meeting of the minds between luxury home buyers and sellers. Some of the current Paia luxury listings are pushing the envelope on pricing. While oceanfront home buyers may be very affluent, they still appreciate value.
The condo and land market will see limited activity largely due to limited inventory. There are no active land listings in Paia at this time. For that matter, there isn’t a whole lot of vacant land period. There are a handful of lots in the community that have not been developed. There are only two condo listings at Kuau Plaza. This complex saw three sales in the first half of 2013 and it went quiet the rest of the year. It appears as if sellers may have overshot the market with their pricing. During 2013, one bedrooms sold in the low 200s and two bedrooms were selling in the high 200s. The current inventory of one bedrooms are listed at $300,000 and $289,900 respectively. It will be interesting to see if the lack of other home options in Paia attracts buyers at those price points or if sellers will need to adjust their prices to find the market.
You can see all of the current Paia Real Estate listings on MauiRealEstate.com. Contact the Maui Real Estate Team with questions on the Paia market or the local community. Paia is our backyard. We know it well.
Maui Real Estate Blog
Kuau Oceanfront-Check the Surf Conditions From Your Backyard
Today is the last day of the Kite Surf Pro World Championship Tour Event at Ho’okipa. The world’s best kite surfers are on hand to wrap up the final event of the Kite Surf Tour season. If you owned our oceanfront listing at 129 Aleiki Place on Kuau Point, you could catch the action from your backyard. This plantation style home overlooks the surfbreaks at Ho’okipa and Mama’s. For avid waveriders, it doesn’t get much better than being able to check the conditions from your own backyard. Here are a couple of pictures I took from the property of guys kitesurfing at the break Lanes at Ho’okipa Beach Park
You don’t even have to love water sports to appreciate this home. Beautiful views and a great location are other attributes. You are just 100 yards from Mama’s Fish House and Paia town and all of it’s shops and restaurants are one mile away. You can live a simple life by the ocean in this Hawaiian plantation style home. This two bedroom/one bath home exudes charm.
If you have your eye on something bigger, this property offers additional development opportunity. The owners recently obtained a certified shoreline and the SMA exemption to modify the existing home and add a second dwelling. This property is offered for $2,950,000. Contact The Maui Real Estate Team to arrange a showing or for additional information.
Maui Real Estate Blog
Paia Area Oceanfront-Hawaii Plantation Home by Mama’s Beach in Kuau
What would your perfect Maui day look like? Wake up with the sun and check the morning surf at Hookipa from your backyard? Play with your kid in the tide pools at Mama’s Beach? Go for an afternoon kite at Lanes or a down wind SUP from Maliko? Take a bike ride into Paia? Walk to dinner at Mama’s? Listen to the sound of the surf from the back deck of your charming, classic plantation cottage overlooking the beach and ocean?
The 14,600 square foot R-1 lot is perched above the crystal blue waters of Maui’s North Shore on Kuau Point. The property features a vintage 2 bedroom 1 bath cottage with fir floors; and the land, plans and approvals to expand. The owners recently obtained a certified shoreline and the SMA exemption to modify the existing home and add a second dwelling. This rare opportunity is available for $2,995,000. Check our our 129 Aleiki Place, Paia listing page for more photos and details. Contact The Maui Real Estate Team to arrange a showing.